HireQuest, Inc. Announces Quarterly Dividend of $0.06 (NASDAQ:HQI)

HireQuest, Inc. (NASDAQ:HQI) announced a quarterly dividend on Tuesday, May 5th. Stockholders of record on Monday, June 1st will be given a dividend of 0.06 per share on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st.

HireQuest has increased its dividend by an average of 0.2%per year over the last three years. HireQuest has a payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HireQuest to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 39.3%.

HireQuest Stock Up 0.8%

HQI opened at $13.15 on Friday. The firm has a market capitalization of $182.79 million, a P/E ratio of 28.59 and a beta of 1.08. The firm’s 50 day moving average is $11.15 and its 200-day moving average is $10.52. HireQuest has a 52-week low of $7.38 and a 52-week high of $13.39.

HireQuest (NASDAQ:HQI) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $6.52 million for the quarter, compared to analyst estimates of $6.75 million. HireQuest had a net margin of 21.98% and a return on equity of 14.90%. Equities analysts expect that HireQuest will post 0.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HQI has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of HireQuest in a research note on Friday, April 10th. DA Davidson reiterated a “buy” rating and set a $15.00 target price on shares of HireQuest in a research note on Wednesday, May 13th. Finally, Barrington Research boosted their price target on shares of HireQuest from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.00.

HireQuest Company Profile

HireQuest, Inc is a publicly traded holding company that provides equipment rental and workforce solutions across North America through two primary operating subsidiaries. Its Coast Equipment Rentals division offers a broad range of support equipment—such as pumps, trench safety systems, power and HVAC units, air compressors, light towers and generators—to the construction, industrial, municipal and environmental markets. Coast Equipment Rentals operates more than 135 branch locations in 36 U.S.